ST. LOUIS -

In a move that came together since the companies do not have “philosophical differences on how to treat the customer,” Enterprise Car Sales now has the equivalent of a captive to help deliver its off-rental vehicles to buyers through a new multi-year, private-label agreement with Chase.

Under the agreement announced on Tuesday, Chase Auto Finance will be the private-label auto finance provider at more than 130 U.S.-based Enterprise Car Sales locations. Marketed and serviced under the name Enterprise Auto Finance, executives highlighted the offering will provide customers a financing experience that complements Enterprise’s award-winning customer service.

Officials indicated Enterprise Auto Finance will roll out later this year.

“Chase is pleased to provide Enterprise with a consistent source of funding and servicing as it continues to expand its car sales business,” Chase Auto Finance chief executive officer Thasunda Duckett said. “This is a great opportunity to deliver a world-class customer experience under the Enterprise Auto Finance brand.”

Chase has more than $60 billion in auto loans and leases for nearly 3 million customers in the U.S. and has relationships with more than 70 percent of all U.S. auto dealerships. The private-label path to vehicle financing certainly isn’t unfamiliar to Chase as it already has relationships with Mazda, Subaru, and Jaguar-Land Rover. But this week’s announcement marks Chase’s first alignment with a single retailer that might turn as much metal as Enterprise, which began selling used vehicles in St. Louis in 1962.

Bruce Jackson, head of retail lending at Chase Auto Finance, told SubPrime Auto Finance News, “We are always in constant dialogue with our clients about how we can better serve their needs and Enterprise is no exception. 

“Enterprise has such a focus on customer service, as do we, so there really were no hurdles,” Jackson noted about the journey to this agreement. “It would have been tough if we had philosophical differences on how to treat the customer, but we did not, and the alignment will work well.

“The customer will have a consistent experience from Enterprise Car Sales to Enterprise Auto Finance. We will operate as an indirect lender for this program, just like we do for the other OEM programs we have,” Jackson went on to say.

Mike Bystrom, vice president of Enterprise Car Sales, explained why this program with Chase will help the company maintain its low-pressure, vehicle-buying experience and allows the Enterprise sales team to focus on that customer experience.

“We are excited to join with Chase to offer a private-label financing option for our customers,” Bystrom said. “We’ve enjoyed a strong partnership with Chase for many years. Our companies share a deep commitment to exceeding customer expectations, giving back to our local communities, supporting military veterans and their families, and putting the customer first.

“Chase is a natural fit to provide financing to our customers through Enterprise Auto Finance,” he added.

For more information about Chase Auto Finance, visit www.chase.com/auto-loans or www.chasedealer.com. For more information about Enterprise Car Sales, visit www.enterprisecarsales.com.